NEW ORLEANS–(BUSINESS WIRE)–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces
that KSF has commenced an investigation into XPO Logistics, Inc. (NYSE:
XPO).
On December 13, 2018, Spruce Point Capital Management reported that its
lengthy investigation into XPO revealed “concrete evidence to suggest
dubious tax accounting, under-reporting of bad debts, phantom income
through unaccountable M&A earn-out liabilities, and aggressive
amortization assumptions: all designed to portray glowing ‘Non-GAAP”
results” and “financial irregularities [covering] growing financial
strain,” among other findings.
The Company was subsequently sued in a securities class action lawsuit
for failing to disclose material information to shareholders, violating
federal securities laws, which is ongoing.
KSF’s investigation is focusing on whether XPO’s officers and/or
directors breached their fiduciary duties to XPO’s shareholders or
otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or
have been a long-term holder of XPO shares and would like to discuss
your legal rights, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]),
or visit https://www.ksfcounsel.com/cases/nyse-xpo/
to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities, antitrust and
consumer class actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
